Since hitting records half a year ago, Wall Street has contended with trade conflicts, European instability and sell-offs in the largest tech companies in the world. Now it’s time to get back to basics, says one of Wall Street’s biggest bulls. “There’s only one thing that really drives the market,” Tony Dwyer, chief market strategist […]
Read moreGoogle employees are bucking their own company to advocate for more diversity at shareholder meeting
Tariq Yusuf, a privacy engineer in Google’s Seattle office, is heading to Alphabet’s Silicon Valley headquarters on Wednesday to take part in the company’s annual shareholder meeting. But Yusuf is hardly attending as a cheerleader. Rather, he’s part of a small group of Google employees attending the meeting to seek shareholder support for a diversity […]
Read moreUber, the ride-hailing company which has been banned from many European cities, is about to launch its Jump electric bicycle sharing service in Germany as it diversifies and seeks to build bridges with local authorities. Uber’s Chief Executive Dara Khosrowshahi made the announcement at a conference in Berlin as dozens of German taxi drivers outside […]
Read moreDavid Stockman is intensifying his bear case. President Ronald Reagan’s Office of Management and Budget director blames a bull market that’s getting longer in the tooth — paired with headwinds ranging from President Donald Trump’s leadership to fiscal policy decisions to questionable earnings. “I call this a daredevil market. It’s all risk and very little […]
Read moreThe U.S. trade deficit fell to a seven-month low in April as exports rose to a record high, lifted by an increase in shipments of industrial materials and soybeans. The Commerce Department said on Wednesday the trade gap dropped 2.1 percent to $46.2 billion, the smallest since September. Data for March was revised to show […]
Read moreU.S. worker productivity increased less than initially thought in the first quarter, while growth in unit labor costs was a bit stronger, supporting views that inflation pressures were steadily building up. The Labor Department said on Wednesday nonfarm productivity, which measures hourly output per worker, rose at a 0.4 percent annualized rate in the January-March […]
Read moreTesla stock rose more than 4 percent in premarket trading, after the company revealed it is nearing its Model 3 weekly production rate and shareholders at Tesla’s annual meeting backed Elon Musk as chairman and CEO. Musk told shareholdersit is “extremely likely” Tesla will hit a weekly Model 3 production rate of 5,000 cars by […]
Read moreCurrency, United States Finance
Microsoft deploys an underwater submarine-like data center to boost internet speeds
Microsoft has deployed a submarine-like data center into the waters off the coast of Orkney, a group of islands located off Scotland. The tech giant said Wednesday that it had sunk the 40-foot-long vessel from the European Marine Energy Center (EMEC), a research base focused on wave and tidal power. The aim is to improve […]
Read moreShares of Twitter fell more than 2 percent in the premarket Wednesday after the company announced the sale of $1 billion worth of convertible notes. The notes, which will be offered to “qualified institutional buyers,” mature in 2024 and will be convertible into cash, stock, or a combination of the two at Twitter’s discretion, the […]
Read moreCurrency, United States Finance
US could face new EU tariffs from July on products like peanut butter
The U.S. could be hit by new EU duties as early as July as the region responds to President Donald Trump’s decision to impose metal tariffs on Europe. The European Commission — which is responsible for trade negotiations on behalf of the EU’s 28 member states — said Wednesday that it is working on new […]
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